Freddie Mac announced Monday it has named John Krenitsky to serve as its senior vice president and chief compliance officer.

Krenitsky will fully transition into his new role on June 1, following current Chief Compliance Officer Carol Wambeke’s retirement.

Krenitsky brings two decades of extensive experience in managing compliance programs gained from more than two decades of working in the global financial services industry.

“John’s sharp legal mind and experience in building and managing enterprise-wide compliance risk programs makes him the ideal person to be Freddie Mac’s chief compliance officer as we continue on our transformation journey. In short, he is the right person for the job at the right time for the company,” said Anil Hinduja, Freddie Mac executive vice president and chief enterprise risk officer.

“On behalf of all of Freddie Mac, I would like to congratulate Carol Wambeke on her retirement and express my appreciation of her more than 20 years of service to the company. Over the last several years, she has played an integral role in Freddie Mac’s transformation.”

As chief compliance officer, Krenitsky will now oversee and manage Freddie’s legal and regulatory requirements and related controls that govern the company’s business activities.

Prior to joining Freddie Mac, Krenitsky served as the chief compliance officer at Discover Financial Services, where he managed an enterprise-wide compliance risk program. Prior to that, he was chief compliance officer for BNP Paribas Subsidiaries, including BancWest Corporation and Bank of the West. Krenitsky also previously spent 13 years working for M&T Bank, first as a deputy general counsel and then as its chief compliance officer.

John Krenitsky, Freddie Mac's new SVP and Chief Compliance Office